IdeaForge Technology, a leading drone manufacturer, saw its shares drop nearly 10% during Tuesday’s trading session following the release of its first-quarter results. The company reported significant declines in both net profit and EBITDA, reflecting challenges in revenue and increased costs.
Key Financial Highlights:
– Net Profit: IdeaForge’s profit after tax (PAT) plummeted by 94% year-on-year, reaching just ₹1.2 crore for Q1 FY25. This is a sharp decrease from ₹18.9 crore in the same quarter of the previous fiscal year. On a quarter-on-quarter basis, PAT fell nearly 87% from ₹10.3 crore in Q4 FY24.
– Revenue: The company’s operating revenue decreased by 11.2% year-on-year to ₹86.2 crore, down from ₹97.1 crore in Q1 FY24. Compared to the previous quarter, revenue fell by 15.7%.
– EBITDA: EBITDA dropped by 88% to ₹8.5 crore, down from ₹32 crore in Q1 FY24. The EBITDA margin for the quarter was 4%, a significant decline from 29% in the same period last year.
Financial Summary:
|
Metric |
Q1 FY 2024-25 |
Q1 FY 2023-24 |
Change (%) |
|
Net Profit (₹ crore) |
1.2 |
18.9 |
-94% |
|
Revenue (₹ crore) |
86.2 |
97.1 |
-11.2% |
|
EBITDA (₹ crore) |
8.5 |
32 |
-88% |
|
EBITDA Margin (%) |
4 |
29 |
– |
Market Performance:
– Share Price Movement: As of 10:00 AM, IdeaForge shares were trading 9.11% lower at ₹780.00 on the NSE, reflecting investor reaction to the weaker-than-expected financial results.
